Copyright 2014 Reed Business Information Limited. ICIS Pricing is a member of the Reed Elsevier plc group.
10th January 2014
Editor Trisha Huang, trisha.huang@icis.com
SPOT PRICES - CFR
Click for Price History
CHINA MAIN PORT* USD/MT n/c
S.E.ASIA USD/MT n/c
NOTE: for full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and
click on methodology.
Note: * = Price range on a zero ADD basis, subject to 5.5%
import duty
Prices into China stable on trade, discussions
Spot acetone prices into China were assessed stable in the
week ended 10 January, in line with trade and discussions.
Prices were assessed as lower in the preceding two reporting
weeks, as importers increasingly cautious outlook
overshadowed tight regional spot supply. Furthermore, there
has been an unexpected increase in the volume of spot
mp
material offered by a northeast Asian producer for shipment in
January, market sources said.
Sa
Slowing downstream demand in the lead up to the Lunar New
Year holidays starting on 31 January appeared to have
alleviated the supply tightness that paved the way for the
acetone price run-up in November and December 2013. Some
importers said in the week that there has been an evident
slowdown in buying activity from the downstream sectors, as
smaller plants began to wind down their operations.
Some importers maintained a cautious near-term outlook, in
line with lower February prices in the futures market, along
with the expected delivery of close to 20,000 tonnes of deep-
sea material between late January and early February.
However, the loading time of product from the US has been
delayed to January from December, market sources said.
Domestic spot prices in China registered further week-on-week
losses amid slowing downstream buying activity.
China
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Acetone (Asia Pacific)
Price Range Four weeks ago US CTS/LB
1180-1210 n/c 1245-1255 53.52-54.88
1240-1250 n/c 1210-1220 56.25-56.70
Spot prices on a zero ADD basis, while subject to a 5.5%
le
import duty, were assessed as stable.
In spot trade, two or three northeast Asian producers have
indicated product availability for shipment in late January/early
February. However, there were no firm offers or discussions
heard for such material in the week. Importers buying ideas for
such product were capped at $1,200-1,210/tonne CFR China
on a zero antidumping duty (ADD) basis, subject to a 5.5%
import duty. A producers selling idea, heard at $1,170-
1,180/tonne FOB NE Asia, was deemed to be unworkable by
Chinese importers. In the previous week, 4,000 tonnes of
northeast Asian material were heard sold at around
$1,210/tonne CFR China (zero ADD basis, subject to import
duty) for shipment in January.
For southeast Asian product that is exempt from ADD and
import duty in China, a producer said that it is unable to offer
any material on a spot basis until March because it needs to
ensure sufficient supply in its domestic market.
For deep-sea material that is exempt from ADD but is subject
to a 5.5% import duty, a 1,000 tonne deep-sea cargo for
loading in February was heard sold at $1,185/tonne CFR
China. Selling indications for such material were heard to have
decreased to $1,190/tonne CFR China from $1,200/tonne CFR
China earlier in the week. In the previous week, 4,000 tonnes
of deep-sea acetone were heard booked at $1,180-
1,185/tonne CFR China.
Domestic acetone prices in China were mixed. Major
producers maintained their prices while spot prices registered
further week-on-week declines.
Major producer Sinopec Beijing Yanshan Petrochemical
kept its price unchanged at yuan (CNY) 9,400/tonne EXW,
after reducing it by CNY400/tonne in the previous week.
Sinopec Shanghai Gaoqiao Petrochemical kept its price
unchanged at CNY9,400/tonne EXW, after lowering it by
CNY500/tonne in the previous week.
Domestic acetone prices in east China settled at CNY9,400-
9,500/tonne ex-tank, down by CNY100-150/tonne from the
previous week.
In south China, acetone prices settled CNY50-100/tonne lower
at CNY9,300-9,450/tonne ex-tank.
China imported 39,707 tonnes of acetone in November 2013, a
21% decline from the same month in 2012, the countrys
 Acetone (Asia Pacific)

Page 2 of 3

Customs data showed. However, the November 2013 import

volume showed an 11% month-on-month increase, according
to the Customs data. Phenol Acetone
Timing
Southeast Asia capacity capacity
Company Location and
Spot prices were assessed as stable despite the recent 000 000
duration
downturn in prices in the key China market. tonnes/year tonnes/year

In the previous week, a 1,000 tonne regional cargo was heard Map Ta 1 March-
booked at $1,240/tonne CFR SE Asia for shipment in January. PTT Phut, 200 124 10 April

Separately, a 700-800 tonne regional parcel was heard sold at Thailand 2014
$1,250/tonne CFR SE Asia, also for shipment in January.
March-
On the ex-tank Singapore front, a Singapore producers first- Mitsui Chiba, April
half January price, at $1,230/tonne ex-tank, was at a rollover 250 90
Chemicals Japan Around 35

le
from its second-half December price.
Feedstock days

Spot benzene prices settled at $1,330-1,333/tonne FOB Chang H1 2014

Kaohsiung,
Korea, down from $1,341-1,343/tonne FOB Korea the previous Chun 300 185 One
week. Taiwan
Plastics month
Production news
1 March-
Taiwan Prosperity Chemical Corp (TPCC) was in the Mailiao, mid April
Formosa 400 250
mp
process of restarting its phenol/acetone plant in Kaohsiung on
8 January after completing a scheduled maintenance, a source
Taiwan

close to the company said.

May 2014
The plant, which can produce 360,000 tonnes/year of phenol Mitsubishi Kashima,
and 220,000 tonnes/year of acetone, was shut on 25 250 150 (4-6
Chemical Japan
December last year to undergo an overhaul. weeks)
The producer plans to continue running its phenol/acetone June-July
plant at a reduced rate of around 80% in January because of Mitsui Osaka,
200 120 Around 35
unfavourable economics, the source added. Chemicals Japan
days
South Koreas LG Chem has further cut the operating rate at
its phenol/acetone plant in Daesan because of weak market Oct-Nov
conditions, a company source said on 8 January. Mitsui Chiba,
190 114 Around 35
Chemicals Japan
The producer on 7 January reduced its Daesan plant operating days
Sa

rate to 50% capacity from 70% capacity previously, the source

said. Chang
Chun Changshu,
The company plans to run the plant at the reduced rate until 300 185 H2 2014
China
the end of the month, the source added. Plastics
LG Chem in early December reduced the operating rate at the
plant, which has a phenol capacity of 300,000 tonnes/year and
an acetone capacity of 180,000 tonnes/year, to 70% capacity. The 2nd ICIS Pan American Phenol-Acetone Conference
LG Chems phenol/acetone plant at Yeosu, which can produce
28th - 29th January 2014, Houston, USA
300,000 tonnes/year of phenol and 180,000 tonnes/year of
Find out more at www.icisconference.com/panamphenol
acetone, is running at full capacity, the source added.
2014 plant maintenance ($1 = CNY6.05)

FEEDSTOCK PRICES (SPOT)

Click for Price History Price Range
PROPYLENE CFR N.E.ASIA USD/MT n/c 1495-1510 -5

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